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Benchmark Capital leads $10m round for Netherlands’ Elasticsearch

12 Nov 2012

Benchmark Capital has led a $10m financing round for big data search and analytics company Elasticsearch.

The venture firm was joined in the Series A funding by computing specialist Rod Jonson, creator of development framework Spring and co-founder of SpringSource, and Data Collective.

Elasticsearch said it would use its first round of funding to rapidly build out the organisation and expand into key geographic regions.

The open source software has been downloaded more than 1.5 million times since it was released by co-founder and CTO Shay Banon in 2009, while its current download rate of 200,000 a month makes it one of the fastest growing open source projects in its market.

Benchmark general partner Peter Fenton said, “Benchmark moves lightning fast on investments when we see the combination of explosive technology adoption and a founding team that radiates technical excellence.

“Similar to companies in which we invested such as RedHat, MySQL and SpringSource, Elasticsearch quickly rocketed to 200,000 downloads per month.

“Shay’s magnetic energy in delivering a simple, and highly usable solution for extracting meaning and information from big data sets the company apart from the current market hype and hyperbole.”

Banon added, “Elasticsearch is designed specifically to tackle the challenge of searching billions of documents or events in real-time, and extracting information out of structured and unstructured data is in our sweet spot.”

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